Getting out of debt whilst pregnant

[pregnantdebt]

Need some serious financial advice...

I’m 16 weeks pregnant. Single. Working full time on around 30k. I get a company car so pay more tax than usual, I come out with around £1600 per month. Sounds reasonable for someone single with no dependents etc. I have 2 loans, one at around 12% APR and one at 6% APR. They were the best deals I could get on loans which I used to pay off credit cards (with extortionate interest rates, my monthly payments were barely paying the interest).

So I pay around £300 a month to the loans. Rent is £450, council tax £100, various other bills around £200. I’m trying to save a little each month to have a pot for emergencies once baby is here. I’m worried about how I’m going to continue to manage to pay my loans (one has about 30 months left and the other I only just took out a couple of months ago. Total debt in loans is around £12000. When I go on maternity, I only get SMP and I should be able to claim UC to top my income up but it will be a real struggle to cover all costs at that point. Is it worth looking at debt management plans? I’m in scotland if it makes a difference.

FWIW, I am trying to be as frugal as possible for the next few months but I do have a terrible track record finance-wise. I’ve never been good with money but I really do want to try and get things on track as I can feel them spiralling and it’s got me really worried.

I am also paying off debt and it's hard. Join the earn £10 extra a day thread. Also look at Dave Ramsey, his snowballing technique is good. Also stop spending- it sounds so easy but honestly you do get better at it and a bit addicted to not spending. I used the Stylebook app this year to categorise my wardrobe and help me not to spend money.

I do Streetbees a lot, and it drips money into my PayPal account. It doesn't seem like much but it mounts up and then if I need to buy something I usually have money in my PayPal account already- this definitely helps. I am posting a cheeky referral link.

I just started using Streetbees! Use my referral code 78177H :) onelink.to/streetbees

If you cannot manage speak to a Debt Management company. There's loads of options out there. It can all be done online if you don't want to talk on the phone. Don't be scared. I have an IVA and I can finally breathe. It's my own fault for getting I to debt. In 4 years I'll be debt free. There's light at the end of the tunnel

Look at dave ramsey and see if you can cut your living expenses right down and snowball.
The baby stuff will cost you about £1k, you can spend a lot more or a lot less if you go 2nd hand. Personally, I would make a list of everything needed and have a sensible friend with children check it before pricing everything.
Will you get any child maintenance or any help at all?

Good luck xx